County Council plans £20m investment to boost business growth

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An investment of £20m over four years will be made by Lincolnshire County Council to fund business growth projects in the county.

The council’s executive have agreed to use the council’s own money for economic development to encourage and support businesses to start up, grow and re-locate to the county. The money will be used to expand business parks, create new office spaces and to build a new facility supporting manufacturing companies to get the skills and expertise they need to thrive. Cllr Colin Davie, executive councillor for economy at Lincolnshire County Council, said: “We know that in many parts of the county there is a limited amount of suitable serviced land for businesses to grow or re-locate to. This investment means we can keep businesses in the county and provide around 3000 new high quality jobs. “It also means that, with the devolution investment in Sleaford Moor Business Park, there will be significant investment in business infrastructure in every district of the county in the coming years.” The decision is based on the acknowledgement that the Lincolnshire economy has several important sectors providing value locally whilst contributing to national propsperity. These include food manufacturing, defence, and advanced manufacturing. Each of these sectors presents significant economic opportunity, but potential growth is constrained by the availability of suitable sites. Similarly, small businesses in some parts of the county say their growth is constrained by the availability of sites or business units that they can grow into.

New industrial units to be built near Holbeach

A new-build scheme of 22,000 sq ft of industrial & office space on a 1.23 acre site just north of Holbeach has been launched. The scheme is Stirlin Innovation Park, which received planning approval earlier this year for a dozen high-specification purpose built industrial business units. The South Lincolnshire FEZ is home to a range of public and private sector partners involved in pioneering further developments in the county’s key AgriTech sector, including the University of Lincoln. According to agents Eddisons, the development offers the chance to be in a central part of the UK Food Valley where, in producing 30 per cent of the country’s vegetable & salad production, satellite and associated business opportunities look set to grow further in the AgriTech sector. Work on site is expected to start early next year, with the units scheduled for completion later in 2025.

Mercia passes £5m milestone from Northern Powerhouse Investment Fund II

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Mercia Debt – which manages part of the Northern Powerhouse Investment Fund II (NPIF II) – has marked a key milestone, having provided over £5m in debt finance since the launch of the fund earlier this year. Mercia has provided a total of £5.5m in business loans to 17 companies covering a wide range of sectors, with the majority based in Yorkshire and Humber. They include Change Accountants in York, Thornton Park Farm near Sowerby Bridge which is setting up a glamping site, Ilkley-based Talk Straight which provides broadband and cloud services to schools, Leeds cybersecurity firm Xentra, Lab Systems Furniture of Hull and Birkenhead-based energy and environmental consultancy Inteb. Pete Sorsby, Fund Principal at Mercia Debt, said the new fund had generated strong interest from the business and advisory community, with many more deals in the pipeline. “Debt funding plays a critical role in supporting business growth,” he said. “Our mission is to help SMEs in the North to access the finance they need, particularly those that might otherwise not receive it. “Mercia provided over £77m in debt funding to almost 300 companies through the first Northern Powerhouse Investment Fund (NPIF I) which resulted in some fantastic growth stories. The latest fund builds on the success of NPIF I, however the maximum loan amount has increased to £2m and the fund has additional flexibility which enables us to support a wider range of business sectors. “We have also worked hard to build our networks and extend our reach into different areas and communities to make them aware of the funding available. As a result we are already seeing a more diverse mix in terms of the type of businesses, founders and locations. We are looking forward to working with them as they build their business and to speaking with other ambitious entrepreneurs seeking funding for growth.”

Lincoln business celebrates 10 years of gourmet gifting with £3m turnover, expansion and ambitious growth plans

From kitchen table to £3 million turnover, Lincoln-based The British Hamper Company is celebrating 10 years of business success as it gears up for its busiest Christmas and unveils plans to double its turnover by 2026. The family-run business, which was founded in 2014 from a gazebo at the family home, was born from a shared enthusiasm for great food, British individuality and a love of gift giving. After a decade of business growth, it has marked its landmark year with a number of major milestones including a branding overhaul, the launch of its products into wholesale, expansion of its Lincolnshire premises and growth of its senior team. The business is now preparing to fulfil more than 2,000 orders a day over the Christmas period, with the creation of 30 additional seasonal jobs. This year The British Hamper Company has rolled out an ambitious growth strategy as it forecasts a £6 million turnover by 2026. Central to this growth is the launch of a wholesale product range, which will see its artisan food and drink products, including Cornish Fudge, All Butter Cheddar Biscuits, Lemon Butter Shortbread, Raspberry Zing Jam, fine teas, and handcrafted sweets, sold in gourmet food stores across the UK and rest of world for the first time. To meet growing demand from consumers, corporate gifting clients and its growth into the wholesale market, this year the business has significantly expanded its Lincoln-based warehouse facilities. The investment into its premises has increased its storage capacity by 36%, bringing the total operational area to approximately 15,000 square feet. With 35% of its orders being sent to recipients overseas, The British Hamper Company has also opened a European distribution hub in the Netherlands to streamline its distribution to global markets and to help support its global growth ambitions. The business has been further bolstered with the appointment of three new senior positions including an Export Sales Manager, National Wholesale Account Manager and Marketing Manager, taking the total number of permanent employees to 20. With a commitment to supporting the local community, 2024 saw the business form a partnership with Lincoln City Football Club. “Celebrating 10 years of The British Hamper Company is an incredible milestone for us as a family and as a business,” says Alice Tod, Sales Director of the Lincoln-based business. “This year has been particularly transformative, from unveiling a refreshed brand identity to launching our wholesale range – we’re immensely proud of how far we’ve come. It all started from humble beginnings in a gazebo at our family home, we are now proud to be a multimillion pound business at the heart of the luxury gifting market. “Throughout this journey, our Lincolnshire roots have been a constant source of inspiration and pride.” James Tod, Managing Director, continued: “Lincolnshire has provided us with a strong foundation to grow, from the talented local workforce to the support of the community that has championed us every step of the way. “This year, we’ve expanded our premises to meet rising demand, creating more jobs and investing in our future, all while staying true to our local heritage. Our new partnership with Lincoln City Football Club is a further example of how we’re staying connected to the region that means so much to us. “As we reach the end of our anniversary year and prepare for our busiest Christmas yet, we remain committed to delivering exceptional gifts that showcase the very best of British craftsmanship and quality. We’re excited about what the future holds and look forward to sharing this next chapter with our loyal customers and partners.”

cardfactory steps into the US with acquisition

cardfactory, the Wakefield-headquartered retailer of greeting cards and gifts, has entered the US gifts and celebration essentials market with the $25m acquisition of Garven Holdings and its subsidiaries.

Garven trades as Garven Design and Cadence Packaging and is a leader in the design and wholesale of gifts and celebration essentials, based in Minnesota.

Garven has an established customer base of general and speciality retailers which will allow cardfactory to further explore design and buying synergies, alongside opportunities to introduce its own ranges into the US wholesale market.

Chief Operating Officer, Anne Schulze and Chief Financial Officer, Walter Jungbauer will continue to manage the Garven business.

Darcy Willson-Rymer, cardfactory Chief Executive Officer, said: “The acquisition of Garven is an important strategic milestone in our partnerships strategy. Together with our separate wholesale supply agreement covering over 1,100 stores across the US, it establishes a physical presence in the US market.

“Over a number of years, Garven has built a reputation as a trusted brand known for its quality products and impressive design capabilities, with Anne and Walter building an excellent customer proposition. We are excited to welcome the Garven team to cardfactory and look forward to building upon their existing commercial relationships, as well as forging new ones.

“International partnerships are a key component of our growth strategy. This acquisition is a key step in delivering the growth from partnerships as we guided at our Capital Markets Update in May last year. Garven represents an exciting opportunity for cardfactory to build scale in the world’s biggest celebration occasions market.”

Yorkshire-based Advanced Alloy Services set for expansion with £20m funding package

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Advanced Alloy Services, a South Yorkshire-based supplier of high purity metals, revert and toll-process for the manufacture of high temperature superalloys, has received a £20m funding package from Santander Corporate and Commercial Banking. The package includes a £10m General Export Finance facility (GEF), £10m Invoice Finance, FX facilities, and transactional banking, which will enable Advanced Alloy Services to grow its business both domestically and internationally, as it pursues its strategy for growth in the UK, US and Asia. The arrangement offers the metals business flexibility, tailored to its needs. The new financing agreement will also allow the business to expand its partnerships with UK universities to research and develop new critical metals recovery processes with material from secondary sources. Financial support from Santander will facilitate these crucial innovation projects and help the UK develop security of supply of critical minerals and metals, essential for key infrastructure projects. Metal recovery projects will also help towards Net Zero targets, by reducing reliance of metals from primary sources and corresponding high carbon emissions from mining and refining processes. Advanced Alloy Services Ltd was founded in 1993. The business has a turnover of £56.7m and in May received its first prestigious King’s Award for Enterprise in International Trade. The firm employs over 40 people who are all based in the Dinnington, South Yorkshire premises. Stephen Hall, Managing Director, Advanced Alloy Services, said: “With our new financing arrangement, Santander has differentiated themselves from other banks. Crucially, they have demonstrated support for the UK metals industry and with it the UK Critical Mineral Strategy, helping security of supply essential for key infrastructure.” Liz Pickering, Relationship Director, Santander Corporate and Commercial, added: “We are delighted to have supported Advanced Alloy Services and delivered a bespoke refinance package which will support the company’s exciting opportunity for UK and international growth. “Advanced Alloy Services Ltd is a well-established local business growing in its sector. The remit at the outset from the management team was to provide a flexible funding solution to enable the metal supplier to maximise international growth, which we achieved by working alongside UKEF. “This has been collaborative approach, and we look forward to continue working with the Advanced Alloy team.”

£40m funding from Octopus Real Estate to deliver three new care homes

Octopus Real Estate has announced £40 million of funding for three new purpose-built care homes in the Octopus Healthcare Fund’s (OHF) portfolio of over 100 homes. These new care homes will provide a total of over 200 beds, each with a private wet room, having been funded as part of a strategic partnership with operator Torwood Care. The sites are prominently located in Durham, Worksop and Bradford, and will operate as Tanglewood Care. The homes, which are being developed by Torsion Care, will be fully electric, powered by air source heat pumps and featuring solar panels. All homes are targeting BREEAM ‘Excellent’, contributing to the Fund’s ESG performance and net zero targets. These acquisitions mark sites three, four and five of a seven-home forward funding portfolio with Torwood Care, a joint venture partnership between Torsion Care and Tanglewood Care. The three new homes are expected to open in the first half of 2026. Forsters LLP acted for the Fund on all three acquisitions. Max Weitzmann, Investment Director, Care Homes, Octopus Real Estate, said: “We’re pleased to build on our partnership with Torwood Care, an experienced and well-respected operator. We have now worked together on the development of five best-in-class elderly care homes across the UK, totalling over 350 beds. “It’s another example of Octopus Real Estate’s commitment to delivering quality, sustainable homes that are fit for the future and meet the needs of society. We look forward to working with Torwood on additional developments going forward, working together to address the undersupply of high-quality care beds across the UK.” Nick Kempster, Director, Torwood Care, said: “At Torwood, we believe that everyone has the right to live in a home that is fit for their needs, and we take great pride in providing quality care in comfortable, relaxed and homely surroundings. “The developments we have funded with the Octopus team are a prime example of that commitment; we’re delighted to be working with Octopus Real Estate to fund and operate these three purpose-built care facilities.” Martin Hutson, Director, Torsion Care, said: “We’re thrilled to have secured project funding with Octopus Real Estate to enable us to deliver three more excellent schemes in an increasingly demanding market. We are expanding our own development portfolio and are excited to continue working with both teams.”

West Yorkshire Mayor unveils multibillion-pound growth plan

The Mayor of West Yorkshire has today (5 December) set out a Local Growth Plan that will transform the region, boost the economy and put more money in people’s pockets. The ten-year Local Growth Plan, published ahead of a meeting of regional leaders next week (12 December), is projected to support the creation of 33,000 new jobs and add £26 billion to the UK economy, according to the West Yorkshire Combined Authority. The plan sets out the Combined Authority’s commitment to invest £7 billion targeted at supporting businesses to grow, ensuring people have the skills they need to succeed, building a quick and reliable public transport system, and creating vibrant places with affordable and sustainable homes for all. The five priorities of the Local Growth Plan are:
  1. Boosting the region’s fastest growing business sectors, including financial and professional services, advanced manufacturing and engineering, life sciences and health technologies, and the creative industries.
  1. Supporting small and medium-sized businesses to grow and succeed, with greater access to finance, skills, workspace, innovation, markets, promotion, and a supportive eco-system of public-private partnerships.
  1. Building a region of learning and creativity, where people of all ages and backgrounds can access the qualifications, skills and employment support they need to secure well-paid work and fulfil their potential.
  1. Creating a better-connected and integrated transport network, with more reliable and frequent bus services under local control, greater rail capacity to reduce congestion and journey times, and a new tram system fully integrated with bus and rail to connect the entire region.
  1. Developing thriving places, with warm and affordable homes for all, safer communities free from crime and antisocial behaviour, neighbourhoods resilient to flooding and the impacts of climate change, and greater access to culture, heritage and sport for everyone.
Tracy Brabin, Mayor of West Yorkshire, said: “Our Local Growth Plan will lay the foundations for the renaissance of our great region, transforming the economy and society of West Yorkshire for future generations. “By ensuring that everyone has the skills they need to succeed, warm, affordable and sustainable homes, and quick and reliable public transport links they can rely on, we’ll enable the creation of thousands of well-paid jobs and help deliver the nation’s growth mission. “By harnessing the full potential of devolution with a single funding settlement, West Yorkshire will finally be able to forge its own future, and we will create a brighter region that works for all.” Mandy Ridyard, Business Advisor to the Mayor of West Yorkshire, said: “Our diverse and dynamic businesses form the bedrock of our £66 billion regional economy, and their growth is essential to the delivery of this plan. “Ensuring they have the skills, investment and access to markets they need to deliver on their business plans will be key to that growth. “Successful businesses that are growing will help to leverage further investment into our region, creating more well-paid jobs that are instrumental to an inclusive, successful economy. “With a keen focus on our fastest growing sectors, our new Healthtech & Digital Tech Investment Zone, and further inward investment, we will deliver for the region and the nation.” Cllr James Lewis, Leader of Leeds City Council and Chair of the West Yorkshire Combined Authority Economy Committee, said: “The launch of the Local Growth Plan marks a real milestone for West Yorkshire. “It brings together our ambitions of reliable transport, skills for adults, well-paid jobs, and supporting and investing in our businesses meaning we can create a thriving and vibrant region. “This plan paves the way for future generations to enjoy West Yorkshire for years to come, whether for work, leisure or tourism.” Developing a Local Growth Plan for West Yorkshire was a central manifesto pledge of Mayor Tracy Brabin and if agreed, it will be adopted locally. This will feed into work the Combined Authority is doing with the Government to develop a statutory Local Growth Plan based on shared priorities and informed by the National Industrial Strategy. The Combined Authority will also be presented with a draft budget for 2025-26, which sets out initial plans for how funding will be allocated to deliver the ambitions of the Local Growth Plan.

UK signs North Sea fishing industry agreement with EU and Norway

A new trilateral deal with the EU and Norway has secured UK fisheries more than 290,000 tonnes of North Sea stocks, worth up to £310m based on historic landing prices. The deal agreed catch limits on six fish stocks including cod, haddock and herring in the North Sea and other waters around the UK. Fisheries Minister Daniel Zeichner says the opportunities secured by the UK will support a sustainable and economically successful fishing sector, which in turn will back coastal communities by providing local jobs and boost economic growth. The agreement also highlights all parties’ continued commitment to ensure the long-term sustainability of shared stocks. Sustainability is at the heart of the UK’s approach to negotiations, pushing for decisions based on the best available science to protect key stocks and support the long-term viability of the UK fishing industry. Advice from scientists at the International Council for the Exploration of the Sea is the starting point for the UK’s approach and, where possible, catch limits have been set at or below these advised levels.  Economic and social considerations are appropriately balanced alongside this scientific advice. The outcome of annual fisheries negotiations will be published in the Secretary of State determination of fishing opportunities for British boats by the end of the year.

Secretary of State promises support for UK steel industry

Secretary of State for Business and Trade Jonathan Reynolds has pledged Government support for Britain’s steelmakers. At a Steel Summit in Parliament Mr Reynolds said the strategy, due for publication next spring, would be a turning point for the industry. The event was organised by our trade body UK Steel and brought together key industry figures to discuss the measures required to help the sector thrive. The industry wants a competitive business landscape to attract additional investment, a level playing field to give industry a fair chance to gain market share, and strategic expansion of steelmaking capacity and capability. British Steel’s Strategy and Marketing Director Lisa Coulson said: “The UK needs a strong and vibrant steel industry and British Steel plans to be at the centre of it – ensuring the UK’s infrastructure needs are met. “We are the UK’s only manufacturer of rail and heavy sections for construction, and our highly-skilled colleagues also excel in making wire rod and special profiles. “We were pleased to hear the Secretary of State outline the Government’s commitment to this country’s steel industry. “Together we look forward to continuing to work with the Government, and our fellow British steel companies, to ensure we build a sustainable future for this country’s steelmakers, our employees, and thousands of more people in our supply chains.”